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Luxury Furniture Market Research Report
The global luxury furniture market reached a value of US$ 22.0 Billion in 2021 and expects to reach US$ 29.6 Billion by 2027, a CAGR of 4.97% during 2022-2027.
SHERIDAN, WYOMING, UNITED STATES, May 24, 2022 /EINPresswire.com / -- The latest report by IMARC Group, titled 'Luxury Furniture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,' offers a comprehensive analysis of the industry, which comprises insights on the global luxury furniture market size . The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global luxury furniture market reached a value of US$ 22.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 29.6 Billion by 2027, exhibiting a CAGR of 4.97% during 2022-2027. Luxury furniture represents the high-end movable articles that are characterized by elite design, zero margins for error, and the best quality raw materials, such as melamine, glass, steel, wrapped panels, etc. It enhances the aesthetic appeal of residential spaces and commercial establishments, including hotels, offices, restaurants, etc. As such, luxury furniture is generally heavily priced as it offers enhanced durability with an extended warranty period.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Important Attribute and highlights of the Report:
•Detailed analysis of the global market share
•Historical, current, and projected size of the market in terms of volume and value
•Latest industry trends and developments
•Strategies of major players and product offerings
Global Luxury Furniture Market Trends:
The expanding real estate sector is one of the key factors driving the luxury furniture market across the globe. In addition to this, the rising product adoption as a signifier of ethnic and religious beliefs, a symbol of personal meaning, a marker of social status, or simply as an artistic display is further catalyzing the market growth. Moreover, the increasing consumer awareness towards the adverse effects of toxic furniture finishes is inflating the utilization of organic luxury items that are made using sustainable, biodegradable, and renewable raw materials, which, in turn, is acting as another significant growth-inducing factor. Besides this, the growing number of modern housing infrastructures is also augmenting the global market. Additionally, the elevating investments in authentication procedures by numerous international platforms for mitigating the risk of product replication by counterfeiters and providing a reliable purchasing environment to customers are anticipated to fuel the luxury furniture market over the forecasted period.
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Key Market Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
•Duresta Upholstery Limited
•Giovanni Visentin S.R.L.
•Muebles Picó S.A.
•Heritage Home Group LLC
•iola Furniture Limited
Breakup by Application:
oLiving Room And Bedroom
Breakup by Raw Material:
Breakup by Distribution Channel:
•Conventional Furniture Stores
Breakup by Design:
Breakup by Region:
•North America (United States, Canada)
•Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
•Europe (Germany, France, United Kingdom, Italy, Spain, Others)
•Latin America (Brazil, Mexico, Others)
•Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
•Market Performance (2016-2021)
•Market Outlook (2022-2027)
•COVID-19 Impact on the Market
•Porter's Five Forces Analysis
•Historical, Current and Future Market Trends
•Market Drivers and Success Factors
•Structure of the Market
•Value Chain Analysis
•Comprehensive Mapping of the Competitive Landscape
TOC for the Report:
•Scope and Methodology
•Value Chain Analysis
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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